Angle Energy Inc.

Angle Energy Inc.

April 20, 2009 06:30 ET

Angle Energy Inc. Announces Expansion of Banking Facility

CALGARY, ALBERTA--(Marketwire - April 20, 2009) - Angle Energy Inc. ("Angle") (TSX:NGL) is pleased to announce the closing of a new syndicated banking facility. The banking syndication is lead by the Canadian Imperial Bank of Commerce and includes Alberta Treasury Branch. This revolving credit facility expands our borrowing capacity to $80 million from the previous level of $70 million.

This banking arrangement will enhance Angle's financial flexibility for continued development of our core operations and to seek strategic acquisitions. Angle exited 2008 undrawn on the Company's original facility but had a working capital deficiency of $9 million.

About Angle

Angle Energy Inc. was founded in 2004 for the purposes of participating in oil and gas exploration, development and production in Canada. Angle trades on the TSX under the symbol "NGL". The Company's focus is on generating and developing its own prospects and on the acquisition of undeveloped lands directly or through farm-ins. Angle has two principal producing properties, located in west central Alberta and emerging prospects also located in Alberta. These emerging projects are targeting large conventional gas plays.

Contact Information